Promote to export Vietnam’s agricultural products to South Korea

Vietnam's agricultural products

There was a meeting between a delegation of Vietnamese enterprises and their partners in Seoul, Korea, on Tuesday. In the meeting, local enterprises said that Vietnam’s agricultural products could compete in the Korean market.

The Korean enterprises said Vietnamese export goods have better packaging design. As a result, this could meet the requirements of the South Korean market. In addition, it would offer a competitive price compared to similar products from the Philippines, China, Indonesia and Thailand.

These were among the key factors to promote Vietnam’s export goods to South Korea in the future. These key factors would contribute to achieving the Vietnam – Korea trade target of $ 70 billion in 2020.

The growth in exports from Vietnam to South Korea will reduce Vietnam’s trade deficit with South Korea and increase exports of processed seafood and agricultural products to the North Asian country.

At the meeting, two parties highlighted the importance of the South Korean market for Vietnamese goods. Moreover, they would like to exploit opportunities in business cooperation among enterprises of the two countries.

The Vietnam – Korea strategic cooperation partnership has been an important tool to support the bilateral trade. In the first nine months, the bilateral trade reached more than $ 45 billion, a year-on-year increase of 52%. This was higher than the total trade value of $ 43.4 billion in the whole year of 2016.

This result was due to business meetings among enterprises of the two countries and authorities’ support in trading activities of the two countries’ enterprises.

The meeting was organized by the Department of Asia and Africa Markets. The objective of the meeting was to introduce more Vietnam’s agricultural products in the Korean market.